Insolvency Lawyer Directory
There are instances that an individual or company can no longer pay its debts. This is called insolvency. To protect both debtors and creditors from the effects of insolvency, Australia established the insolvency law. This law aims to protect both debtors and creditors through the different policies and regulations embodied in the law. Any individual or company having insolvency problems can ask assistance from an insolvency lawyer.
An insolvency lawyer is a professional who have specialized knowledge on the laws and regulations concerning the insolvency of companies and individuals. Insolvency lawyers provide advice and legal assistance to companies and individuals who are facing issues of bankruptcy and insolvency. They may provide assistance and advice regarding the legal aspects of debt restructuring. Debt restructuring is the process by which a company that is facing cash flow problems and having problems paying it debt is allowed to appeal for reduction of its debts. The company is also allowed to make negotiations for rehabilitation in an attempt to restore liquidity and to obtain the ability to continue its operations.
An insolvency lawyer can help both companies and individuals facing insolvency issues. He can represent the clients in court during litigations and he may also forward appeals in behalf of the client. This allows companies and individuals to have more chances of recovering from the downfall.
To sum up, an insolvency lawyer can help both creditors and debtors resolve insolvency issues. Other services offered by insolvency lawyers are the following:
- Defending companies and individuals who have received a statutory demand
- Assisting creditors in recovering payments for debts
- Negotiating in court in behalf of individuals to have debts cancelled so individuals can start anew
- Providing assistance in bringing up applications for bankruptcy to the Insolvency and Trustee Service Australia